This week, the shipment of petroleum coke market became stable, and the coke price rose and fell
Market Overview
This week, the negative electrode material market supported petroleum coke well, and the price of high-quality low sulfur coke in Northeast China continued to rise by 200-300 yuan / ton; CNOOC petroleum coke is generally shipped, and the coke price drops by 300 yuan / ton; The shipping of medium and high sulfur petroleum coke market is divided. Sinopec's refineries are shipping well, and the prices of some coke continue to rise by 20-30 yuan / ton. The petroleum coke of local refineries is greatly impacted by imported coke, and the electrolytic aluminum market is general. The mentality of downstream aluminum carbon enterprises to receive goods has changed, and they hold a more wait-and-see attitude. The local coking price has fallen sharply by 100-950 yuan / ton
Analysis on Influencing Factors of market price this week
Medium and high sulfur petroleum coke
一.In terms of supply, this week, the main refinery Tahe Petrochemical coking unit started coke production, and some refineries continued to operate at a low level due to the general market situation of product oil; Many new coking units in local refineries have been opened and shut down, the coking units in Rizhao Landbridge, Youtai technology and Jincheng Petrochemical have been shut down for maintenance, and Fuhai united, Fuhai Hualian and Tianhong chemical coking units have started to output coke. After the continuous decline of local coking prices, the purchasing enthusiasm of downstream enterprises has increased, and the overall inventory has decreased compared with the previous week; Overall, the supply of petroleum coke market continues to increase slightly; The performance of petroleum coke market in Northwest China was acceptable this week. The price of petroleum coke in Sinopec was raised by 300 yuan / ton this week, and the price of coke in other refineries remained stable. The shipment of low and medium sulfur coke in Northwest China still performs well, the downstream purchases on demand, and the refinery inventory is low.
二.In terms of demand, negative electrode material enterprises have a good demand for petroleum coke. Due to the continuous new production capacity, traditional negative electrode material enterprises mainly purchase low sulfur petroleum coke. However, due to the limited supply of low sulfur coke in the market, they purchase medium sulfur petroleum coke instead, which has a great impact on the traditional market; The demand for petroleum coke in electrode and carburizer market is stable; The demand for petroleum coke in the aluminum carbon market is stable. However, due to the high coke price, the pressure on downstream funds is large, and the high sulfur coke is imported to Hong Kong. Due to its low price, some enterprises purchase imported coke instead, forcing the coke price downward. Local refineries are under great inventory pressure and forced to sell at a lower price.
三.In terms of ports, more imported high sulfur coke arrived at the port this week, and the storage of petroleum coke in the port continued to increase; Affected by the sharp decline in coke prices of local refineries in China, the imported high sulfur sponge coke market is generally shipped, and the resources of medium and low sulfur sponge coke are still tight, and the coke price is strong; The metal silicon market is weak, the shipment of Formosa Plastics coke is general, and the coke price is temporarily stable. Low sulfur coke Market: this week, the price of high-quality petroleum coke in Daqing, Fushun and other refineries in the northeast of PetroChina increased by 200-300 yuan / ton. Jinzhou, Jinxi and Dagang Petroleum Coke departments carried out bidding this week. Recently, the low sulfur coke market was affected by the downward trend of carbon coke price, and the overall shipment performance was average. Meanwhile, PetroChina's refineries Taizhou and Huizhou Petrochemical cut the price of petroleum coke by 300 yuan / ton this week, which had an impact on the Northeast coke market. The petroleum coke of CNOOC's refineries is mainly supplied to the carbon market for aluminum. Recently, the coking price has dropped rapidly, which is conducive to the trading of CNOOC's low sulfur coke market.
The local refined petroleum coke market was generally traded this week, and the coke price fell by 200-950 yuan / ton as a whole; Affected by the concentration of imported high sulfur coke in Hong Kong, some ground coking units were started to discharge coke, and the supply of petroleum coke in the local refining market increased, of which the increase of petroleum coke with sulfur of about 4.5% was the most obvious, and the price was forced to decrease; Due to the high price of medium and low sulfur petroleum coke, the enthusiasm of downstream receiving goods is low, and the price follows the decline. The price of high-priced petroleum coke has continued to decline, the enthusiasm of downstream carbon enterprises to receive goods has increased, and the price of locally refined petroleum coke has stopped falling and stabilized. As of May 19, there were 11 conventional maintenance times for the local refining coking unit. This week, Fuhai united, Fuhai Hualian and Tianhong chemical coking units started coke production, and Rizhao Landbridge, Jincheng Petrochemical new plant and Youtai technology coking unit stopped maintenance. As of this Thursday, the daily output of petroleum coke from the local refinery was 28850 tons, and the operating rate of the local refinery and coking was 54.59%, a decrease of 0.85% compared with last week. As of Thursday, the mainstream transaction price of low sulfur petroleum coke (about 1.5% sulfur) was 5980-6800 yuan / ton, that of medium sulfur petroleum coke (about 2.0-3.0% sulfur) was 4350-5150 yuan / ton, and that of high sulfur petroleum coke (about 4.5% sulfur) was 2600-3350 yuan / ton.
Supply side
As of May 19, there had been 17 regular maintenance times for coking units. This week, the coking units of Rizhao Landbridge, Youtai technology and Jincheng Petrochemical new plants were shut down for maintenance, and the coking units of Fuhai united, Fuhai Hualian, Tianhong chemical and Tahe Petrochemical started coke production. As of Thursday, the national daily output of petroleum coke was 66900 tons, and the coking operation rate was 53.51%, an increase of 1.48% over last week.
Demand side
This week, the downstream cathode material and electrode market had a good demand for low sulfur coke, supporting the high price of coke; Aluminum carbon enterprises have a stable demand for petroleum coke. However, due to the high coke price for a long time, the enterprise has great capital pressure, and its enthusiasm for receiving goods is general; The demand for petroleum coke in the market of carburizer and silicon metal is stable.
Inventory
This week, the market demand for low sulfur coke was good, and the inventory of low sulfur coke continued to maintain a low level; The market demand for medium and high sulfur is stable, the inventory of petroleum coke in the main refineries is at a low level, the price of locally refined petroleum coke has been declining, the enthusiasm of downstream receiving has been improved, and the overall inventory of locally refined petroleum coke has dropped to a medium low level.
Baichuan Yingfu expects that the market price of low sulfur petroleum coke will remain weak and stable next week; The supply of medium and high sulfur petroleum coke continues to increase, but the negative electrode material enterprises have successively switched to purchasing medium sulfur coke, which has certain support for the price schedule of medium sulfur coke. The price of high sulfur coke has been continuously reduced, and the shipment has improved. Baichuan Yingfu expects that the price of medium and high sulfur petroleum coke will remain stable next week, with some adjustments.